Forum Energy Technologies (NYSE:FET) Issues Quarterly Earnings Results, Misses Expectations By $0.58 EPS

Forum Energy Technologies (NYSE:FET) announced its quarterly earnings data on Thursday. The oil and gas company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.58), Zacks reports. Forum Energy Technologies had a negative net margin of 6.07% and a negative return on equity of 2.00%.

Forum Energy Technologies Price Performance

Shares of FET stock traded down $0.13 on Thursday, reaching $18.85. The company’s stock had a trading volume of 31,449 shares, compared to its average volume of 67,623. The stock’s fifty day simple moving average is $17.09 and its 200-day simple moving average is $16.18. Forum Energy Technologies has a 1 year low of $12.83 and a 1 year high of $20.85. The company has a current ratio of 1.93, a quick ratio of 0.87 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $231.47 million, a price-to-earnings ratio of -4.46 and a beta of 2.38.

Insider Activity at Forum Energy Technologies

In related news, Director Louis Raspino sold 4,950 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $15.41, for a total value of $76,279.50. Following the completion of the sale, the director now directly owns 16,121 shares in the company, valued at $248,424.61. This trade represents a 23.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.20% of the stock is currently owned by insiders.

Forum Energy Technologies Company Profile

Forum Energy Technologies, Inc designs, manufactures, and distributes products serving the oil, natural gas, industrial, and renewable energy industries in the United States and internationally. It operates through three segments: Drilling & Downhole, Completions, and Production. The Drilling & Downhole segment designs, manufactures, and supplies products, and provides related services to the drilling, well construction, artificial lift, and subsea energy construction and services markets, including applications in oil and natural gas, renewable energy, defense, and communications.